Emphasizing the crucial aspect of securing Pi Network wallets through the employment of two-factor authentication (2FA) for enhanced protection.
In the ever-evolving world of digital assets, Pi Network finds itself amidst a period of consolidation and caution. The Pi Safety Center, the most reliable source of verified information for the Pi project, has been emphasizing the importance of wallet security and user vigilance.
Pi Network has warned its users to be wary of phishing attempts, specifically trusting only emails related to two-factor authentication (2FA) from official Pi addresses, such as [email protected]. The risks in the Pi ecosystem are not limited to such threats; fake websites, fraudulent apps, and deceptive emails pose known dangers.
The priority for Pi users is to protect their credentials and avoid mistakes that could lead to permanent losses. The Pi wallets, being non-custodial, place the responsibility of guarding private keys and passphrases squarely on the users' shoulders.
Despite the extensive user base of Pi, the long-term prospects will depend on adoption, ecosystem growth, and overall trust. The sideways movement of Pi reflects investors' caution, as they are reluctant to fuel a rebound without new catalysts. The price of Pi remains far from the early-year highs around $3.00, indicating the extent of the decline.
Market observers describe the current phase for Pi as a low-level consolidation. The Moving Average Convergence Divergence (MACD) for Pi indicates a flat trend, signaling limited momentum in both directions. The Relative Strength Index (RSI) for Pi shows that the asset is moving near oversold levels, suggesting a potential for a minor recovery.
The market performance of Pi remains subdued, according to CoinMarketCap data. Daily trading volumes for Pi have remained between $24 million and $30 million, suggesting consistent participation but no significant buying or selling momentum.
As of September 6, Pi was trading at $0.3421, down 0.7% over the past 24 hours. The 24-hour high and low of Pi were $0.3489 and $0.3419, respectively, suggesting calm conditions and consolidation near the lower levels of the chart.
The Pi Network team, led by co-founder Nicolas Kokkalis, has been educating users about the real risks of decentralized finance and the importance of self-custody. Dr. Chengdiao Fan, another co-founder, is also known to be involved in the project.
Broader macroeconomic factors and global regulatory uncertainty continue to weigh on the sentiment of digital assets, including Pi. As investors await new developments, patience is key, both for users seeking to protect their assets and investors seeking to regain stability in the Pi market.
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